Consumer Payment Card News

April Surge

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Revolving credit grew at an annual rate of 6.8% during April compared to 5.4% last April according to preliminary figures released this week by the Federal Reserve. However overall consumer credit slipped from 4.3% for April 1998 to 3.4% for April 1999. Revolving credit, mostly credit card debt, increased more than $3 billion during April. Since the first of this year revolving credit has grown about $10 billion, according to the FRB. At the end of April, American consumers were $1.335 trillion in debt, exclusive of home mortgages.

                     REVOLVING CREDIT HISTORICAL
              Apr99      Mar99     Feb99      Jan99

%GRWTH:       6.8%        -1.0      3.4       11.6

$OWED:      $ 570.3      567.1     567.5     565.9
$ - billions

Source: Federal Reserve; revised figures as of 06/07/99; For complete historical data visit www.carddata.com.

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